Hong Kong Mortgage Applications Decline by 0.7% in October 2025

October 2025 Mortgage Survey Overview

The Hong Kong Monetary Authority (HKMA) has released the results of its residential mortgage survey for October 2025, revealing a slight decline in the number of mortgage applications. According to the survey, applications fell by 0.7% from the previous month, totaling 8,255 applications.

Loan Approvals and Market Dynamics

Despite the decrease in applications, the total value of approved mortgage loans in October remained steady at HK$31.3 billion, similar to September's figures. However, the landscape within the market showed some shifts. Loans financing primary market transactions experienced a 2.1% decrease, amounting to HK$12.4 billion. In contrast, loans for secondary market transactions saw a 3.4% rise, reaching HK$16 billion. Refinancing loans declined significantly by 8.4% to HK$3 billion.

Mortgage Drawdowns and Interest Rates

The survey also highlighted a 3.5% reduction in mortgage loans drawn down during October, totaling HK$20.1 billion. There was a slight shift in interest rate preferences among borrowers. The proportion of new mortgage loans referencing the Hong Kong Interbank Offered Rate (HIBOR) decreased from 92.6% in September to 91.9% in October. Similarly, loans priced with reference to best lending rates dropped from 1.5% to 1.3%.

Outstanding Loans and Delinquency Ratios

The outstanding value of mortgage loans saw a modest increase of 0.8%, reaching HK$1,907.4 billion by the end of October. The mortgage delinquency ratio remained low at 0.13%, and the rescheduled loan ratio held steady at nearly 0%.

For further details, the full report is available on the [Hong Kong Monetary Authority](https://www.hkma.gov.hk/eng/news-and-media/press-releases/2025/11/20251128-5/).